Posted To: Mortgage Rate Watch
Mortgage rates didn’t budge , compared to yesterday’s, which leaves them in line with their highest levels since late June. A small majority lenders have moved up from quoting conventional 30yr fixed rates of 3.375% to 3.5% during the course of this week, and a several are already as high as 3.625% for top tier scenarios. That’s about as stratified as it gets when it comes to each lenders’ best possible rate on any given scenario. The stratification is a product of market volatility, all-time lows in benchmark rates (like US Treasuries) earlier this month, and varying lender strategies with respect to their business flow. While it’s good to be aware of the discrepancy in rate offerings, it’s also good to remember that the “lowest rate” isn’t always “the best deal.” It certainly can be, but…(read more )